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Term Life & TPD Insurance

We'd like you to take a moment to sit down and really think what life would be like for your family if you were to die.

Where would the money come from to cover the mortgage, school fees, running the car, credit cards, everyday living expenses such as food, clothing, phone bills, gas, electricity and child care.  Not to mention funeral expenses and other medical expenses that your health fund simply doesn't cover.

Most people think having money in a savings plan, or investments and even perhaps equity in your home will be useful at a time like this. But think about what is required to turn these into cash and would your loved ones be able to cope with having to sell assets at such an emotional time, when they really need financial support and time to adjust.

It's not a pretty picture. Which is why we would like you to take a moment to consider Term Life Insurance.

Term Life is designed to pay a lump sum if an insured event occurs, that is if you die or become terminally ill. For an additional premium, optional benefits such as the Total and Permanent Disablement (TPD) Option can be added to the policy to protect you against permanent disablement rendering you permanently unfit to return to work.

TPD cover offers protection and financial peace of mind if you become totally and permanently disabled and the payment could be used to eliminate debt and meet other costs like ongoing medical and home care.

Case Study - David's Story

Jan Maxwell talks about the Term Life policy taken out by her husband David.

David and I had always dreamed of bringing up our children in the country.

5 years after we married, and just 6 months after our son Jack was born, we found the land we had been looking for.  We took out a large mortgage to buy it and a Term Life policy to protect us in case anything unexpected happened.

6 months ago, whilst driving home from the local football club, David’s car collided with another and he was killed instantly.

I was absolutely devastated. David was only 33 years old.  You never think these things will happen to you....

Thank goodness for our insurance cover.  The lump sum I received helped me pay off the mortgage on the farm and there was still money left over.  The cover I took included a Financial Planning Benefit which enabled me to get advice on how I should best use the rest of the money and the Grief Support Service provided me with sympathetic counselling when I needed it most.

I sold the farm and bought a small cottage nearby so the children could still grow up in the country as we had always planned.

While this is not a real life case, some details are drawn from an actual claim.

What would Jan have done without life insurance?